Pictet Asset Management Holding SA Grows Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Pictet Asset Management Holding SA lifted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 25.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,618,176 shares of the company’s stock after acquiring an additional 332,307 shares during the period. Pictet Asset Management Holding SA’s holdings in Zscaler were worth $291,935,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership raised its position in Zscaler by 30.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock valued at $156,739,000 after purchasing an additional 204,996 shares during the period. Norges Bank purchased a new position in Zscaler during the fourth quarter worth $32,158,000. Raymond James Financial Inc. bought a new position in Zscaler during the fourth quarter valued at $28,072,000. Trivest Advisors Ltd raised its stake in shares of Zscaler by 95.3% in the fourth quarter. Trivest Advisors Ltd now owns 250,000 shares of the company’s stock valued at $45,102,000 after acquiring an additional 122,000 shares during the period. Finally, Korea Investment CORP lifted its holdings in shares of Zscaler by 144.3% in the 4th quarter. Korea Investment CORP now owns 136,160 shares of the company’s stock worth $24,565,000 after acquiring an additional 80,416 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

ZS has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Mizuho raised their price target on Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group set a $207.00 target price on Zscaler and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank reissued a “sector outperform” rating and issued a $242.00 price objective (up from $225.00) on shares of Zscaler in a research report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $232.68.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares of the company’s stock, valued at $70,979,848.10. The trade was a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the transaction, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 199,234 shares of company stock valued at $39,970,790 in the last three months. 18.10% of the stock is owned by insiders.

Zscaler Stock Performance

Zscaler stock opened at $209.45 on Friday. The stock has a market cap of $32.41 billion, a PE ratio of -837.80 and a beta of 0.88. The stock has a 50-day moving average of $201.69 and a two-hundred day moving average of $193.07. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.